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U.S., China Reach an Agreement,
Averting Trade Sanctions by Both

By

Kathy Chen and

Helene CooperStaff Reporters of The Wall Street Journal

Updated June 18, 1996 12:01 a.m. ET

BEIJING -- Once again, China and the U.S. narrowly averted a multibillion-dollar trade war over China's failure to curb rampant copyright piracy, reaching an agreement hours after a designated Monday deadline.

The resolution followed a weekend of talks between Acting U.S. Trade Representative Charlene Barshefsky and China's top leaders -- including President Jiang Zemin -- and trade officials. The negotiations, which ran late into the night Sunday and for most of Monday, defused a looming trade war that would have seen the...